The government is abolishing the current outdated tax regime for non-UK domiciled individuals and replacing it with a modernised residence-based regime that is ‘simpler, fairer and more competitive’.

From 6 April 2025, there will be a new residence-based regime where individuals will not pay UK tax on any foreign income and gains arising in their first four years of tax residence, provided they have been non-tax resident for the last 10 years. This will affect up to 78,700 non doms currently living in the UK.